The development comes close on the heels of the company announcing its international foray into the Australian market.NEW DELHI: Cab-hailing platform Ola has decided to close its bus service, Shuttle as part of a "re- balancing" of its mobility portfolio.

Ola, which is locked in an intense battle with US-based Uber, has terminated the bus services in the Delhi-National Capital Region, Mumbai, Kolkata, Chennai and Hyderabad from February 3.

People close to the development said the decision was taken in view of the strong growth in cab and auto rides -- driven by increasing affordability -- that had in turn, impacted Shuttle rides.

When contacted, the company in an emailed statement said Ola has "decided to rebalance its mobility portfolio" given the "evolution" in the daily commuting needs of customers.

The statement said the company plans to further strengthen a range of other in-city commuting alternatives.

"The plan includes expansion and focus on new and emerging categories like Autos, Share, and opportunities such as electric vehicles and advanced in-vehicle technologies," it added.

The development comes close on the heels of the company announcing its international foray into the Australian market.

Launched in 2015, Shuttle was expanded across various cities like Mumbai, Kolkata, and Chennai among others.

​​This comes as a surprise to the industry as Rakesh was recently elevated to the position of Directo Sales and Marketing which was the third promotion for him in six years of his tenure in the company.